February 21, 2014 – We are pleased to announce that Representatives John Dingell (D-MI) and Diane Black (R-TN) will convene a briefing on the role of V-BID in Medicare on Capitol Hill, Friday, February 28th. Center Director, A. Mark Fendrick, MD, will present V-BID as an incremental solution to the health and economic well-being of Medicare Beneficiaries and all Americans.
Understanding how the Medicare system could spend more efficiently and improve the health of beneficiaries offers an important step forward to ensure the program’s solvency. V-BID has been included in major bipartisan health reform proposals, including a prominent role in the Wyden-Isaacson ‘Better Care, Lower Cost Act‘ introduced last month.
Value-Based Insurance Design (V-BID) programs are designed with the tenets of clinical nuance in mind. Clinical nuance recognizes that 1) medical services differ in the amount of health produced, and 2) the clinical benefit derived from a specific service depends on the consumer using it, the provider, and where it is delivered. V-BID programs reduce or eliminate consumer cost-sharing for evidence-based services, mitigating a concern that cost-related underuse will lead to adverse clinical outcomes for beneficiaries and higher overall Medicare spending.
The University of Michigan Center for Value-Based Insurance Design leads in research, development, and advocacy for innovative health benefit plans.